Subscription Newsletter Corliss Group Financial Magazine: 5 Dos and Don'ts for Greater Financial Security

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Subscription Newsletter Corliss Group Financial
Magazine
5 Dos and Don'ts for Greater Financial Security
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With the unemployment rate slowly falling, many
Americans are facing a healthier job market and
trying to get their financial lives back on
track. Based on findings of the FINRA Investor
Education Foundation's National Financial
Capability Study of more than 25,000 Americans,
the FINRA Foundation has developed five tips to
help you manage daily financial challenges and
build a brighter financial future in 2014.
Do take advantage of tax breaks when saving for
college and retirement. If you have financially
dependent children, try to save for college using
tax-advantaged savings accounts like a 529 plan
or Coverdell Education Savings Account.
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Do reduce your debt. More than two out of five
Americans (42) surveyed felt that they have too
much debt, regardless of their income. The best
way to avoid an endless cycle of credit card debt
is to try to pay your credit cards in full and on
time. If you have credit card debt, pay it off as
quickly as possible.
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Don't chase yield. Investors face a difficult
investing environment, with low yields on
fixed-income investments and an economy on the
mend. Some investors may opt to "chase return,"
meaning they put their assets into riskier and
sometimes complicated products that promise
higher yields than they can get in more
traditional investments.
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Don't be part of the 39. We asked Americans if
they would be able to come up with 2,000 if an
unexpected need arose in the next month, and
nearly two in five (39) said they probably or
certainly could not.
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Do check your credit report and score. You need
to do both. Only 42 of survey respondents stated
they had obtained a copy of their credit report,
and only 41 had checked their credit score
within the last 12 months. With credit hard to
get and identity theft a continuing problem, it's
critical to see whether your credit history is
accurate and correct any mistakes immediately.
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Read full article here http//www.fool.com/how-to
-invest/personal-finance/2014/02/16/5-dos-and-dont
s-for-greater-financial-security.aspx
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